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Introduction

Asset management represents a key opportunity for cost savings in oil & gas. To be successful, asset management solutions must be comprehensive and standards-based, and they must make it easy to capture, store, manage, and retrieve relevant asset information.

Highlights

  • Business conditions in upstream oil & gas continue to worsen as crude oil prices fall below $40/bbl, far below the $100/bbl price of recent years. If there is a silver lining in the gloom, it is that in many cases these assets have not been well managed, and major savings can be had by adopting new solutions and practices.

Features and Benefits

  • Explains the business conditions that are forcing enterprises in upstream oil & gas to seek significant cost savings and why these conditions are not likely to change soon.
  • Assesses the key characteristics of successful asset management solutions.

Key questions answered

  • Why is asset management a relatively untapped opportunity for cost savings in upstream oil & gas?
  • Why must asset management systems be comprehensive in scope and span the entire asset lifecycle?

Table of contents

Ovum view

  • Summary
  • The crude market hasn't hit bottom yet
  • Asset management is a relatively untapped opportunity
  • Good asset management is comprehensive and spans the entire asset lifecycle

Appendix

  • Further reading
  • Author

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